Precious Metals Video Update: When is the Next Bottom in Gold & Gold Stocks
In this video we take a look at the big picture outlook in Gold, which is building the handle part of the super bullish cup and handle pattern.
We also examine the key downside levels for Gold as well as gold stocks. GDX & GDXJ are oversold right now but are not yet at strong support. Should they fall by $2-$3 from here then they would hit very strong support levels and oversold breadth readings would hit an extreme, leading to a sustained rebound, at the end of winter.
Jordan Roy-Byrne, CMT, MFTA is a Chartered Market Technician and Master of Financial Technical Analysis who is a member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication that emphasizes market timing and stock selection for precious metals investors.
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